Available from tomorrow, the five year deal has no fee and both come with a free standard valuation covering properties priced up to £500,000 and fees assisted legal services for standard remortgages.
A new range of five year fixed rate offset mortgages will also be launched on Wednesday, including a 2.99% deal available up to 75% LTV.
Martin Richardson, Leeds Building Society’s General Manager – Business Development, said:
“As the chances of a Base Rate rise have become less likely, we’ve been seeing greater demand for longer term fixed rate products and our new five year deals are in response to this.
“An increasing number of borrowers are taking advantage of the current low interest rate environment to lock into a competitive deal and enjoy the security of fixing their monthly repayments for the longer term.
“While the low interest rate environment continues to make conditions challenging for savers, offset mortgages may be an attractive option for making your cash work harder for you and either bring down your monthly repayments or potentially shave years off the term of your mortgage, which could result in significant savings.”
